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<br /> 0094584A69 � ' '�
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<br /> 3. Catculating the WIodifted oiote Rzte.The Vlodified �iote ltate will be a fixed rate of interest equal to the Federal . ' . . . __.
<br /> . \ational Viortgage Association's requi� net yield for 30-year fixed sate mortga�es suhject to a 60-day mandatorY
<br /> - delivzry commitment, plus one-half of one percent (0.5%),rounded to the nearesc one-eighth of one percent (0.125/o)
<br /> (the "v[odified �ote Rate`�. The required net yield shall be the appiicabie net yield in effect on the date and time of day
<br /> - that I notify the \ote Holder of my election to exercise the Conditional Vlodification and Extension Option. If this � . :,
<br /> required net yield is not available, the vote Holder tvill determine tine ViodiSed \ote Rate by „�� comparabte --. _:- --, �.-° i� :.
<br /> information. � ' �� � ': _
<br /> 4. CatwJ.atlag We `ew Faymeat tlmoun� Provided the Viodified vote Rate as calculated in Section 3 above is not . ' - -_
<br /> - �L..... G �•••••• �u nwJ�.'u�i.°. �.CS�w D•d:•°•��••..A ..fl n�l�w����i;r;.,.,a reeuired in Section 2 above are satisfied� — --- - _� _
<br /> - -� �lGCttba a.uou .��.awa+�a��. F+�+ '
<br /> the \ote Holder will deteimine the amount of the monthlY PaYment that will be sufficient to repay in full(a)tb.e unpaid �-�-;, `j.
<br /> r principal,Plus(b)accrued but unpaid inteiest,P 1us(c)a ll o t her s u m s I w i ll o w e u n d e r t h e�o t e a n d S e c u r i t y I n s t r u ment �,. �
<br /> .. u t h e n are current, as r e quired under Section 2 above), over the ' <. : ,�- ::.—_
<br /> o n t h e 1 r i a t u r i t y D a t e (a s s u m i n g m y m o n t h 1 Y P a Y m e n ents. T he r e s u lt o f t h�s c a l c u l a t i o n w i ll be • •-: :`"`Y•--
<br /> ' iemaining extended term at the Ulodified tiote Rate in equal monthlY Pa3+m . '•' �_ ._..__:...,..
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<br /> the new amount of mY Principal and interest payment every month unt�1 the Note is fullY P� w._.�:.-u��,,:
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<br /> . 5.Exerdsing the Caudttfonal Madifica8aa and Extwston Optiom.The I�tote Holder wt11 notify me at leasU. 90 but not :; � -�,;y�:,_�-
<br /> mo� than 1Z0 calendar days in advance of the Maturity Date aad advise me of the principal, accrued but unpaid 'F.;;,F,,. :-
<br /> intetest, aad all other sums I am expected to o�ve on the MahuitY Date. The Note Holder also will advise me tbat I ::.t�._�_--.
<br /> may exercise the Coaditional Mod�cation and E�Rension Option if the conditioas in Section 2 above aze met• 'The . . , ��"-•�.h,:,.
<br /> Note Holder w�11 provide mY PaYment recard 'snformation, together with the name, title and addiess of petson _. _ °_:;: `.��i.
<br /> � . representing ihe Note Holder that I must aotify in order to exercase the Conditional Wlodification and E�ension -- �- _
<br /> . pption. If I meet the conditions of Section 2 above, I may excrcise the Conditional \+todificatioa and E�ension Option ;:�_
<br /> by notifyins the `'ote Holder no Iater than 45 calendar daYs prior to the Maturity Date. The Note Holder will calculate V � r,. ; _
<br /> the fixed Modified Note Rate based upoa the Federal ,Yational Mortgage Associatioa s applicable published required {, �
<br /> . � 'eld ia effect on the date and time of day notificxtioa i�received by the Note Holder and as calculated in Section 3 �
<br /> a� —
<br /> net}n
<br /> above. I will then have 30 calendar days to provide the Nate Holder with acceptable proof of my iequired ownership, .. �,. �.;,,.
<br /> occupancy aad property lien status. Hefore the \iiatuiity Date the Note Ho2der will advise me of the new interest rate ,,:_ � a: : —
<br /> (the vlodified�1ote Rate),new monthly payment amouat and a date,time and place at which I musc appear to sign any ;4�;zY�3 .y`'i ..:
<br /> decuments required to complete the required note modification and �Iaturity Date extenson. I understand the tiote .•�,;•,._` �
<br /> Holder will cha:ge me a$250 processing fee and the costs associated with updating the title;n��*�nce policy,if any. ;�;�;�, � :.� : —
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<br /> � HY SIGNING BELOW, Borrower accepts ancl agrees to the tera�s and covenants contained in thi.s Balloon Rider. '�'�"" ��' i=�� -' �.,:_
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<br /> SuDStant�ally 5lmuar to MULTISTATE BALLOON RtDER Fom+3�80 07i89(Paga 2 ot 2) ... .
<br /> Smqio Famuy-FNMA Umtoim�nstrument EC082L Rev O8n5/9S ., -
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